Tesla Stocks Worst Week In Over A Year + Minor Cybertruck Updates

➤ TSLA stock suffers worst week in more than 18 months

Hey everybody rob mauer here happy friday as we head into the weekend after what has been a very long week congratulations on making it through this has been the worst week for tesla actually since uh the coveted related drops of 2020 tesla down 6.3 today the s p 500 down 3 nasdaq down about four percent so i think a lot of today macro driven uh but piling on

Top of the down days that we had earlier this week as you can see it’s been rough so down about 16 since last friday’s close and as i said the worst weeks since march 2020 where we had those you know 20 25 drops so rough week again congratulations on making it through interestingly not the highest volume week today or this week since uh so far this year this is

About the 11th week so not even the top 10 volume finish even though it did seem like we had quite a lot of uh certainly a lot of news and a lot of trading activity still still not all that high in terms of the volume even with uh that huge drop so when we think about it and we look at tesla’s performance for you know the week what would we really have well we had

The delivery report and then we’ve had all of this ongoing back and forth with twitter would elon sell would he not sell uh and so far now that we’re through the week you know we have confirmation now that elon didn’t sell on monday he didn’t sell on tuesday i believe those were the two highest volume days this week so if he would have sold those would have been

The most likely so i think we’re through that but still there is the uncertainty that maybe elon is going to end up selling at some points based on that twitter uh deal so that remains you know a bit of an overhang on the stock on top of the delivery report which when you think about it i mean we had a five percent missed does that really justify the stock price

Action that we have seen this week when tesla was already you know trading quite a bit lower than uh a little bit a couple weeks back even where we are above 300. to me not really but that’s why on sunday and on monday i talked about how this is you know very fear-based demand concern driven um certainly not that’s that’s not trying to say that that’s the entirety

Of it but i do think that’s a contributing factor especially just in this macro economic environment it’s fear-based and people are taking risk off and we’re seeing tesla be the recipient of that on the heels of this report so i think that’s a factor and then obviously you know what’s been going on with twitter which hopefully we have a resolution too within the

Next couple of weeks uh twitter today slightly down not a huge drop half a percent so again a little bit less likelihood the deal closing at that price um but not a huge drop today and we haven’t really had much more news on that situation and then from a macro perspective of course we had comments from uh president biden last night talking about how this is the

Highest risk that we have been in for an armageddon type of situation since the cuban missile crisis so you know anytime you have comments like that coming out it’s probably not going to be the best environment for stocks especially higher growth uh stocks that haven’t grown into the multiple that they are priced at yet next week is going to be another big week as

We head into then earnings the following week but next week of course we have the producer press index we’ve got the core uh consumer price index and then we’ve got the fomc meeting minutes on wednesday as well so lots going on with tesla again you know tough week but um we do have earnings to look forward to they’re obviously going to be record earnings i think

Tesla’s price earnings right now is already dropped to you know 80 something like that i don’t see it here but yeah 80 right now i’ll have my earnings estimates out you know before we go on earnings but easily i think tesla should easily clear a dollar in gap earnings and should move them up to that three and 30 cent range for trailing 12 months and drop this down

You know even more significantly and if you annualize that tesla on q3 earnings annualized is probably going to come in you know and be at 50 times earnings or something like that maybe even less on a gap perspective so uh you know i mentioned this as we’re talking about this topic because as we sit through a week like this while there are demand concerns it’s

More it’s important to recognize that the fundamentals are still improving tesla’s you know still doing still driving the business every single day and you know q4 should be another record quarter that just continues to build on on that progress that tesla is making so that’s what’s you know most important to focus on uh the market can stay in a situation where

Things are mispriced for a long time you know tesla’s history is one of the better guides for us to recognize that so keep that in mind um and for me it’s all about focusing on the fundamentals all right next up here we’ve got an update from idra it’s kind of a weird update i’m not sure why this is coming out today but they said or they posted a channel they

Actually put or they posted a video on their channel which they actually posted yesterday and then deleted but this is just demonstrating the the 9000 ton gigapress which you know poorly held secret this is going to be for the cyber truck um they’ve posted a video saying that they are done building it so build completed testing completed um and presumably you know

Shipped over to tesla but we’ve already talked about this we talked about this a couple months back after they wrapped up their show or their open house event back in mid-june after that point in time i believed that they had confirmed that they had sent this off to the customer which of course would be tesla so what we’re seeing here uh alex torvill on twitter

Noting that apparently the giga press has arrived in houston texas eight days ago and should be arriving shortly at giga texas so joe tagmire the other drone flyover people gonna be keeping an eye out for that but this definitely matches more of like the timeline that we would have been expecting from previous updates that we had from edra i walked through those

Shipping timelines on how that’s you know takes about a couple of months and now we’re right into that range where we originally talked about okay maybe you know late september into early november kind of a window uh and that’s right where we’re at i haven’t been able to verify this personally but we do have a reply here from elon to a teslarati tweet and article

Where it does mention that it’s already entered the port of houston tesla should be receiving it any day now uh elon replying of this and can’t we can’t wait to see this beast in action so not necessarily confirmation but seems to be confirmation that you know the two-thirds of the information in this tweet hopefully elon saw that and is you know recognizing that

As a part of it rather than just that he just finished building it and testing it but hopefully that’s a little bit of confirmation that this is close for tesla so that’s very exciting that should allow tesla to move into the next phase for cyber truck it’s not like they can just get this machine and immediately start producing cyber trucks but hopefully it lets

Them get into their final prototyping stage and remain on track for production towards the middle of next year so we’ll see on that and then also just a small thing on the cyber truck here we had previously talked about elon’s tweet where he had mentioned that it needs to be able to clear the channel from starbase to south padre island we looked at the google

Map shot of that this is a nice uh aerial photo from rgv aerial photography on twitter that shows what this looks like in a not map based format so it’s a little bit more understandable the distance that elon is talking about the cyber truck having to cross and elon did note here that in terms of the the rate of travel for the cyber truck if it were submerged or

Not submerged but in the water then you’d need an electric propeller mounted on the toe hitch to go faster than a few knots so basically saying without that that’s the rate of speed that he would expect there might be a creative wheel hub design that can generate meaningful thrust though so i don’t know if people would be necessarily like swapping out their uh

You know wheels to potentially the hubcap to you know generate some propeller motion probably don’t not not a high enough use case to justify that but interesting to see elon kind of thinking about some of these things like maybe tesla you know sells this part or certainly after market uh people could design something like that and that might even be what he’s

Talking about here too with the with the wheel hubs as well so again small thing but kind of curious to pass along and then we do have a new interview here from the financial times with elon musk it’s a lot of stuff that we’ve talked about nothing necessarily groundbreaking in terms of newness a couple things probably worth pointing out is that elon here talking

About um you know his behavior on twitter things that we’ve heard elon talk about before but um you know he says he plays the fool on twitter often shoots himself in the foot causes himself to get in all sorts of trouble uh but he does find it vaguely therapeutic to express himself and that’s a good way to get messages out to the public so you know people kind

Of wonder if elon is aware of that result of shooting himself in the foot sometimes and elon on other occasions has mentioned this and you know clearly still acknowledging that here and then probably the most important thing see if i can find it here i think i had screwed up my queue a little bit but elon was talking about just do a quick find so elon was asked

About china and the writer here says that there’s some topics that i’m using elon um the longest silence that followed any of his questions were about china and the risk to tesla shanghai factory so elon paused thought this one over and he did say that beijing has made it clear that its disapproval of the recent world of starlink in ukraine to help the military

Circuit vet rushes cut off internet has been you know frowned upon their question and he says that beijing has sought assurances that he would not sell starlink in china kind of following you know that action so elon’s long pause here we’ve seen him pause and consider these comments before it’s obviously something that elon feels is something that is needs to

Be handled delicately um not that necessarily means there’s any any tension but it does sound like you know maybe there’s there’s hints of that here with with some of spacex’s actions so i don’t know maybe that contributed a little bit to the the stock price that we saw the stock price movement that we saw today but i definitely wanted to make sure to pass that

Along elon also had some comments about taiwan which you know don’t really want to get into that whole political situation i think we’ve had plenty of that with uh with elon so far this week so i wanted to pass those along from that interview and then the last couple of things here um elon did note that there’s an even better build coming next week for fsd beta

As i mentioned we’re on i don’t know if elon here is talking about 10.69.3 which he had previously said would be a pretty big step up so we’ll have to see but hopefully we’ll find that out next week and then pepsi here confirming tesla’s tweet that they are expecting their tesla semi deliveries on uh december 1st so that’s exciting and they do say that

They’re looking forward to this next step in their journey and will provide more details once they have taken delivery so hopefully you know i talked a little bit about this yesterday where since this wouldn’t be going to a consumer we might not get a ton of detail initially but hopefully looks like pepsi is planning on sharing some things i would think that maybe

This ends up being a you know uber or hertz type of situation where we have had comments from ceos of those companies about how tesla has fit into their business model and that has helped us kind of understand where those partnerships or you know customer relationships may go in the future i’m hoping that we’ll see a similar outcome in sort of similar comments

And updates from pepsi here and that’s kind of what it sounds like they intend to do and then last thing gonna save this for last just to firmly put it into the rumor mail category but cleaner watt has posted a video today and said that they have been told that initial production for 4680 cells have begun in giga shanghai i haven’t heard anything like that yet

Doesn’t mean it’s not accurate definitely could be but would definitely take you with a grain of salt for now i’ll try to see if i can learn anything more about that but if that is the case obviously that would be a an exciting step forward for giga shanghai we really haven’t heard too much about tesla’s plans there for whatever reason on 4680s um all right so

I think that is it for today enjoy the weekend again long week this week so uh look forward to the weekend and again we’ll have a busy one next week with i’m sure even more twitter drama um if you didn’t catch yesterday’s episode go back and watch the first minute or so i did have a little bit of an announcement on that if you didn’t fill out that form yet uh

That’ll be in the description today as well so as always thank you for listening make sure you are subscribed and signed up for notifications you can also find me on twitter at teslapodcast and we’ll see you next week for the monday october 10th episode of tesla daily thank you

Transcribed from video
Tesla Stock’s Worst Week In Over A Year + Minor Cybertruck Updates By Tesla DailyliveBroadcastDetails{isLiveNowfalsestartTimestamp2022-10-08T001519+0000endTimestamp2022-10-08T002829+0000}